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Peet_Serfontein
Sep 11, 2019 8:57 AM

WHL: look at that bearish divergence! Short

WOOLWORTHS HOLDINGS LTDJSE

Description

Using the RSI to calculate bullish/bearish divergence conditions over multiple time frames (daily, weekly, monthly).
Divergence period used is 8 periods (Fibonacci number).
Bearish divergence is when the price is making higher highs, while the indicator (RSI) is making lower lows.
Indicates underlying weakness. Bulls are exhausted. Warning of a possible trend direction change from an uptrend to downtrend.


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